Cuban remittance-company owner accused of money laundering
Money laundering for Medicare fraud alleged South Florida may be famous for sun, sand, and celebrities, but it’s also famous for money laundering tied to Medicare fraud. A Cuban businessman charged in...
View ArticleDe-risking continues but AML software can help with heavy lifting to reverse...
De-risking trend due to AML Compliance continues At the G20 Summit last week, the international Financial Stability Board delivered its report to the G20 nations about the mounting risks of the...
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Some opioid treatment centers turn to fraud, money laundering
‘Patient trafficking’ and ‘patient brokers’ capitalize on urgent need As opioid addiction grips rising numbers of Americans, addiction treatment centers are attempting to help individuals reclaim their...
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AML, CA, & Legal Pot: Armored cars, buried cash, sky-high fees, even torture
California’s legal-pot scene shows range of AML stresses Armored cars, buried cash stashes, physical assaults, down-low bank accounts, and thousands in monthly checking account fees—it’s all a part of...
View ArticleSubpoena seeks bank records of former Trump campaign manager
Loans, real-estate deals draw scrutiny for possible AML issues The biggest news stories regarding the Trump presidential campaign and its alleged Russia connections focus almost exclusively on who...
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AML Compliance: CDD/KYC on-boarding for banks of all sizes
AML Compliance: CDD/KYC on-boarding flexible and robust enough for institutions of all sizes and types Making terrific AML software solutions available to financial institutions of all sizes and styles...
View ArticleRefining of illegal gold reveals money-laundering bonanza in S. Florida
Narco-traffickers send gold to Miami and get cash back in money laundering operation High-profile AML Compliance scrutiny tends to be reserved for banks, but in South Florida, the refining of precious...
View ArticleAML/CTF News: Terrorist used eBay, PayPal in transfer scheme
AML/CTF Compliance difficult to enforce in ‘holes in the vast online financial world’ Ebay and PayPal made the news last week—in an affidavit about a terror-financing sting. American Mohamed Elshinawy...
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AML Compliance solutions important for mortgage lenders
SURETY Sanctions Screening for mortgage lenders’ AML Compliance Money laundering and Sanctions violations in the real-estate market are drawing more and more scrutiny, and mortgage lenders and...
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AML/CTF standards and resources in Australia under scrutiny
Is AML Compliance in Australia keeping pace with global standards? Major lapses in AML Compliance at Commonwealth Bank of Australia have dominated AML/CTF headlines over the last two weeks, and...
View ArticleDennis Rodman, North Korea–and AML Compliance?
Reality of AML Compliance a backstory to Potcoin’s support of Rodman’s North Korea trip Strange days, indeed, when Dennis Rodman and North Korea make news in the world of AML Compliance. But that is...
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Worried about getting soaked by your AML software solution vendor?
Your vendor cannot tell you exactly how much your implementation will cost or how long it will take. Your vendor will not give you a ‘not-to-exceed’ hard quote for your implementation. You are billed...
View Article‘Bones’ lays bare Zeta cartel’s U.S. money-laundering reach
New book details one cartel’s flashy U.S. money laundering operation If you’re intrigued about the deep details of money laundering and how the FBI prosecutes it, the new book “Bones” by former...
View ArticleU.S., Turkey spar over money laundering, sanctions violations
AML, Sanctions at center of charges against Turkish bank official, others U.S. federal prosecutors have charged nine Turkish citizens with conspiring to trade gold for gas in Iran in violation of...
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Car bombing kills Panama Papers journalist
Deadly risk of pursuing money laundering, tax evasion, and corruption The Panama Papers made headlines again yesterday—this time related to the car-bombing death of an anti-corruption journalist in the...
View ArticleRussia’s wealthiest launder hundreds of billions out of country
Pulling back the curtains on massive money laundering in Russia With a headline worthy of a Hollywood-thriller script, Bloomberg last week published a long-form feature on the extraordinary scale and...
View ArticleAnger remains over Philippine bank’s alleged AML Compliance lapses in heist
Bangladesh finance minister vents about role of RCBC in heist of $81 million Fallout from the early-2016 heist from the Central Bank of Bangladesh continues, and last week the Finance Minister of...
View ArticleAmerican arrested for money laundering via ‘Nigerian prince’ scam
269 counts of money laundering, mail fraud In a strange twist on the “Nigerian prince” schemes that net millions for Nigerian fraudsters each year, police in Slidell, LA, on New Year’s Eve arrested a...
View ArticleTo boost AML & CTF, China limits overseas withdrawals
China moves to limit money laundering, tax evasion via overseas ATMs China’s State Administration of Foreign Exchange (SAFE) announced last week that it will place a hard limit on the amount that may...
View ArticleTurkish banker convicted on five charges in US federal court
Scheme to evade AML Compliance and CTF and sanctions rules lead to federal convictions for Turkish banker In a trial that riveted the nation of Turkey, federal prosecutors in Manhattan last week...
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